Cryptonite (also known as Crypton) was launched in 2014 and is the first crypto-currency to implement the mini-blockchain scheme along with many other innovative features. Our goal was to create a truly scalable cryptocurrency which combined many of the best ideas developed within the alt-coin community and some of our own innovative ideas. The basic philosophy of Cryptonite is to follow the ideals set by Bitcoin as closely as possible but improve upon everything that could be improved.

Cryptonite was developed by the Mini-blockchain Project over a period of almost four months. Cryptonite is a fork of the Bitcoin core but the code has been extensively modified and expanded upon. It seems that the altcoin community is experiencing a torrential flood of clone-coins right now and it is not our goal to add to that pile of useless altcoins. Our goal was to create something truly new, innovative, and useful to the cryptocurrency community.

The altcoin community should be about innovation, not a select few people making a quick buck. Our goal was to break out of that greed driven trend. Cryptonite had no pre-mine, no IPO, the difficulty adjustment algorithm is designed to adapt quickly and prevent instamines, the coins are distributed fairly over a long period of time (half mined after 10 years), we did over a month of public beta testing before release along with a week early pre-announcement.

Brief Overview

Mini-Blockchain

Cryptonite is the first implementation of the light weight mini-blockchain scheme. Nodes will never again spend days synchronizing with the network and the average user will not have to fear becoming a full node. This is possible because of our decentralized balance sheet approach.

Innovative Ideas

Cryptonite combines many great ideas developed by the altcoin community and also includes several novel features not seen in another cryptocurrency until now. Two innovative features which help improve security and trust are unmalleable transactions and withdrawal limits.

Smart Adaptation

Cryptonite achieves smart coin distribution by adjusting the difficulty and the block reward every block, adapting quickly to changes and providing smoother transitions. The dynamic max block size mechanism ensures that the transaction capacity of the network naturally grows over time.

Future Proofed

Cryptonite has an unparalleled potential for scalability and transaction capacity. The total coin supply has a full 64 bits of granularity, the nonce and the timestamp have also been increased to 64 bits. The M7 PoW algorithm uses multiple cryptographically secure hashing algorithms.

Micro-Transactions

Cryptonite has superior support for micro-transactions because we don't have to worry about keeping any so called "dust" in the blockchain forever. Since blockchain bloat is not a problem, blocks can be larger and we can encourage the use of custom transaction messages.

Multi-Sig Support

Cryptonite has full native support for multi-signature transactions, which require multiple parties to sign a transaction with different keys before it is considered valid. Multi-sig transactions are useful in many real world situations, especially for consumer protection and escrow schemes.

Mini-blockchain is about quick initial sync and small data directory.But there are times when you may need the full blockchain; for example if you run a block explorer, or if you have troubles syncing for any reason. Another situation can be when you recover a private key on a new wallet, and want to see your old transactions.

How to use the snapshots: close the wallet and wait some seconds, to be sure that all the data files are closed. Copy the snapshot over your data directory (the one including "wallet.dat"), you don't need to delete anything. Run the wallet again. In case the wallet asks you, do not click "resync", just wait.

Detailed infoYou can sync in two modes: from scratch or from a snapshot.

From scratch is the fastest as it syncs headers only, then blocks for the last week + the trie; usually takes about half an hour or a little more. This way you have less disk usage because you are making use of the mini-blockchain feature.

From snapshot you will have a full blockchain on disk, but takes time as it will download full blocks since the snapshot, and of course takes a lot more disk space.

If you go for the "from scratch" mode, and you interrupt it while it initially syncs, the trie may break and you will need to reset your blockchain (running with -resync or going for the snapshot mode).

Cryptonite is the first implementation of the mini-blockchain scheme, a scheme designed for maximum scalability, achieved by addressing the problem of blockchain bloat and providing a solution which allows all old transactions to be forgotten by the network after they become old enough. This allows new nodes to synchronize with the network extremely quickly and allows existing nodes to free up disk space by deleting old transactions. As a result of this scheme the network doesn't need to become increasingly centralized only by nodes capable of handling the full blockchain, so mining can remain more decentralized.

Micro-transactions & Messages

Thanks to the mini-blockchain scheme Cryptonite has superior support for micro-transactions and custom transaction messages attached to transactions. In Bitcoin and other altcoins where the full blockchain is required to synchronize with the network, small value transactions and transaction messages tend to be discouraged because they cause "blockchain bloat". The scalable nature of the mini-blockchain scheme relieves us from the concern of blockchain bloat and we can have full support for transaction messages and micro-transactions because nodes don't need to store transactions forever.

Withdrawal Limits

Cryptonite is the first altcoin to feature withdrawal limits, allowing users to set a limit on how many coins they can send from an address in one block. This is useful because it helps to prevent double spending and increases confidence in low-confirmation transactions. If a merchant can see that the withdrawal limit on an address prevents it from being emptied in a small number of blocks they can have much more confidence in any transactions sent to them from that address, even without any confirmations at all. So the main advantage of withdrawal limits is that 0-confirmation transactions become safer in the right conditions.

Unmalleable Transactions

If the claims of Mt. Gox and other businesses are to be believed, transaction malleability has caused quite a bit of damage to the Bitcoin economy. Of course even if that's the true reason why Mt. Gox went out of business, it's still their fault for not understanding transaction malleability when it was well known about for a long time. Cryptonite is the first altcoin to feature unmalleable transactions, in order to avoid any repeat of such undesirable events and allow the transaction ID's to be reliable. This is achieved by having the sender sign the txid and by ensuring the txid will always change when the contents of the transaction changes.

Because we can't modify the original thread as the owner is inactive.I needed to put a lot of new information: scattering it thru the old thread is very confusing.With the new thread, we can have an updated place with all the info on Cryptonite.

Gentlemen, I have good news.well, or not so good.At least I made some clarity.

On BTER.com returned all XCN which I tried to send to btc38.com ( I wrote a request to support BTER. To honor of this exchange I have to say that they respond quickly.)I guess they got (bothered) tired of trying to fix the problem, and they simply returned coins.(my English is bad. and not sure that I select the words correctly, so sorry)

However XCN that I sent from Poloniex to btc38 received successfully !But not credited to the wallet in btc38.I see him in block explorer, but i not can trade him.it is very frustrating!

Gentlemen, I have good news.well, or not so good.At least I made some clarity.

On BTER.com returned all XCN which I tried to send to btc38.com ( I wrote a request to support BTER. To honor of this exchange I have to say that they respond quickly.)I guess they got (bothered) tired of trying to fix the problem, and they simply returned coins.(my English is bad. and not sure that I select the words correctly, so sorry)

However XCN that I sent from Poloniex to btc38 received successfully !But not credited to the wallet in btc38.I see him in block explorer, but i not can trade him.it is very frustrating!

btc38.com deceive possible? (for lock the wallet)

P.S. if you intend to revive the coin - the price will be high again.

Again, I'm doing all that I can to help them fix their wallet. I really do not know what to do more than this.It really looks like they either do not want to have it fixed now, or they are really bad, because there are tens of active and fully working nodes all around the globe.

And yes, I intend to revive the coin and I'm dedicating time and resources to it. Plus there is gnasirator who is providing the block explorer and soon the new site and wiki, and a developer friend who is working on fixing the sync issue. That will avoid all excuses from the exchanges.After that, we will be working on improvements of all kinds.

Not yet, it's working fine.Ocminer wanted to close it for months, but didn't do it yet.I'm trying to convince him to keep it alive.Hence please set your donation percent to 1 or higher, so we can at least show him some appreciation for his great service.

The "new" wallet is just a recent compilation of the source. The new git fork has just some compilation fixes.If you want to move a wallet dat file (or full data directory) created with the old binary to a newer wallet, you may face issues because of different library versions, so I suggest you to export and import the private keys.This is valid for most coins, though.

Era customer service jingle: Hello, XCN wallet is not synchronized, and not the speed problem oh! Because the synchronization is expected after the block will be completed on schedule to 100% can not be completed [we are] many times synchronous stop card in schedule 99%, if closed open, there will be error: Assertion failed! Program:C:Users File: trieview.cpp.line Expression: blockCache.ReadBlockFromDisk..... 305 (blkck, PIndex) if you can please give us feedback, thank you. This is the answer BTC38 customer service.

Era customer service jingle: Hello, XCN wallet is not synchronized, and not the speed problem oh! Because the synchronization is expected after the block will be completed on schedule to 100% can not be completed [we are] many times synchronous stop card in schedule 99%, if closed open, there will be error: Assertion failed! Program:C:Users File: trieview.cpp.line Expression: blockCache.ReadBlockFromDisk..... 305 (blkck, PIndex) if you can please give us feedback, thank you. This is the answer BTC38 customer service.

they probably have a corrupted wallet.they must import the private key in a new wallet and sync using a blockchain snapshot.I provided them all of this.now I'm wondering why, despite me being in constant email contact with them, they don't tell me their progress.also they should use a headless wallet, not the qt one: it's lame for an exchange to use windows and graphical frontend.

Era customer service jingle: Hello, XCN wallet is not synchronized, and not the speed problem oh! Because the synchronization is expected after the block will be completed on schedule to 100% can not be completed [we are] many times synchronous stop card in schedule 99%, if closed open, there will be error: Assertion failed! Program:C:Users File: trieview.cpp.line Expression: blockCache.ReadBlockFromDisk..... 305 (blkck, PIndex) if you can please give us feedback, thank you. This is the answer BTC38 customer service.

they probably have a corrupted wallet.they must import the private key in a new wallet and sync using a blockchain snapshot.I provided them all of this.now I'm wondering why, despite me being in constant email contact with them, they don't tell me their progress.also they should use a headless wallet, not the qt one: it's lame for an exchange to use windows and graphical frontend.

Era customer service jingle: Hello, XCN wallet is not synchronized, and not the speed problem oh! Because the synchronization is expected after the block will be completed on schedule to 100% can not be completed [we are] many times synchronous stop card in schedule 99%, if closed open, there will be error: Assertion failed! Program:C:Users File: trieview.cpp.line Expression: blockCache.ReadBlockFromDisk..... 305 (blkck, PIndex) if you can please give us feedback, thank you. This is the answer BTC38 customer service.

they probably have a corrupted wallet.they must import the private key in a new wallet and sync using a blockchain snapshot.I provided them all of this.now I'm wondering why, despite me being in constant email contact with them, they don't tell me their progress.also they should use a headless wallet, not the qt one: it's lame for an exchange to use windows and graphical frontend.

Era customer service jingle: Hello, XCN wallet is not synchronized, and not the speed problem oh! Because the synchronization is expected after the block will be completed on schedule to 100% can not be completed [we are] many times synchronous stop card in schedule 99%, if closed open, there will be error: Assertion failed! Program:C:Users File: trieview.cpp.line Expression: blockCache.ReadBlockFromDisk..... 305 (blkck, PIndex) if you can please give us feedback, thank you. This is the answer BTC38 customer service.

they probably have a corrupted wallet.they must import the private key in a new wallet and sync using a blockchain snapshot.I provided them all of this.now I'm wondering why, despite me being in constant email contact with them, they don't tell me their progress.also they should use a headless wallet, not the qt one: it's lame for an exchange to use windows and graphical frontend.

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